Pyramid Saimira Theatre Ltd on Friday surged nearly 20 per cent, touching its upper limit on the BSE even as the market regulator Sebi barred the company’s promoter Mr P. S. Saminathan from share trading. Sebi had on Thursday barred Mr Saminathan from share trading and being a director in any listed company for ten years after the company was found inflating its profits during 2007-08.
Despite suffering the jolt, shares of Pyramid sky-rocketed by 19.94 per cent to touch an upper circuit of `7.46 on the BSE. Sebi has also restrained Ms Uma Saminathan, the wife of Mr Saminathan, from any dealing in the securities market for five years.